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Director Frank Slootman sold 1,938 shares of Snowflake Inc. (NYSE:SNOW) common stock on September 9, 2025, at a price of $223.86, for a total value of $433,840. The sale comes as Snowflake’s stock trades near its 52-week high of $249.99, having delivered an impressive 101% return over the past year. According to a Form 4 filing with the Securities and Exchange Commission, the sale was executed under a pre-arranged 10b5-1 trading plan adopted on March 26, 2025. InvestingPro analysis suggests the stock is currently overvalued, with analysts setting price targets ranging from $170 to $440.
On September 8, 2025, Slootman also disposed of 832 shares of Snowflake common stock at a price of $225.58. The transaction, valued at $187,682, was to cover tax obligations related to the vesting of restricted stock units.
Following these transactions, Slootman directly owns 162,737 shares of Snowflake. He also indirectly owns shares through various trusts, an LLC, and a foundation.
In other recent news, Snowflake reported robust second-quarter earnings, with product revenue reaching $1,090 million, marking a 32% year-over-year growth. This figure exceeded consensus estimates by $47 million and highlighted an acceleration from the previous quarter’s 26% growth. The company’s remaining performance obligations increased to $6,932 million, a 33% rise, while net revenue retention improved to 125%. Analyst firms have responded positively, with Macquarie raising its price target to $235, Piper Sandler to $285, and TD Cowen to $275, all citing strong growth metrics and AI-driven expansion.
Additionally, Snowflake announced a significant leadership change with the retirement of CFO Mike Scarpelli. Brian Robins, previously CFO at GitLab, will assume the role, effective September 22. Robins will lead the global finance organization, overseeing critical areas such as planning, treasury, and investor relations. Scarpelli will remain with Snowflake during a transition period before taking on an advisory role. These developments reflect Snowflake’s strategic focus on maintaining growth momentum and financial strength.
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